As a B2B brand, how would you like to reach a wider audience, generate quality leads, and improve customer retention? An explainer video can help with all of these things and more!
And yes, the cost of creating an explainer video may indeed seem expensive at first. In this article, we'll explore 7 key reasons why explainer videos may just be worth the expense for your business.
We'll also take a closer look at how high-quality explainer videos could benefit your B2B brand and provide a better ROI than other marketing tools you may be using.
This article is divided into two sections:
Part I: Why explainer videos are worth the cost - 7 Facts
Part II: How to hire an external explainer video service
Part I: Why Explainer Videos Are Worth The Cost - 7 Facts
This section tells you why Investing in an explainer video has many benefits. We will also discuss why the ROI is well worth the money spent.
1. They help generate quality leads
In recent years, businesses have turned to explainer videos as an effective medium for demonstrating their products or services. While the main purpose of an explainer video is to attract the viewers' attention and keep them engaged, it can also be used for customer education and brand awareness.
Here is a bit of statistics on why your website should have an explainer video:
"According to Forbes, more than half of consumers think that a company should have video content on its website."
From this data, it is clear that investing in an explainer video by a B2B brand is justified because it helps boost lead generation by significantly increasing website rankings and conversion rates.
Moreover, with a majority of marketers continuing to use web videos, it is clear that explainer videos help reach out to a wider audience while being cost effective at the same time.
Lastly, this useful resource from Explainer Video Hero that explains how to generate quality leads with explainer videos.
2. They help reach a wider audience
The success of your marketing strategy depends on how many people you can reach. Even though explainer videos may seem expensive they can:
Be cost-effective and have 'viral potential' in comparison to other marketing methods.
Create greater brand awareness which directly affects sales figures.
Help prospective customers make a purchase decision, which significantly increases the conversion rate and improves customer loyalty in the long term.
What about supporting statistics?
"Topexplainers.com reports that 76% of marketers say it has increased traffic to their website, and 80% say it has increased dwell time on their sites."
You can also watch this explainer video example for Green Garage Network for inspiration. The video shows how you can use simple explanations effectively and has 657K views.
3. They improve sales
Explainer videos provide a quick, entertainment-filled demonstration of what your company does and explain the value that it offers.
However, for some businesses, the cost of creating an explainer video can be a major hurdle. But don't let the cost deter you because explainer videos are worth the money.
Another plus side of explainer videos is that they hold the power to significantly increase your conversion rate – one good explainer video could produce a rise in conversions of up to 80%.
This results in increased website traffic and leads, as well as more potential customers. For this reason, businesses should take advantage of the power of explainer videos. Traditional marketing techniques like print or radio advertisements no longer work.
"For example, this hybrid explainer video, which is part of a video course launched by Kissflow, resulted in 4918 plays, 275 hours watched, and a 75% average completion rate in 6 months."
4. They help you stand out from the competition
As expensive as they might seem at first glance, explainer videos can be a worthwhile investment particularly if you want your B2B brand to stand out from your competitors.
With competitors vying for customers' attention online, having an explainer video can help capture their attention quickly while simultaneously driving up engagement and leads within your target market.
Investing in an explainer video is not only worthwhile but also necessary if you want success in today's digital landscape – so don't deny yourself this chance.
Suppose that your B2B brand is spending substantial cash on text content while your competitors are investing in explainer videos. Let’s use some statistics to see where you stand in the race.
"According to Topexplainers.com, when it comes to online product reviews, 79% of consumers prefer to watch a video rather than a text-based review."
Watch this explainer video example created by Explainer Video Hero for nectar, an employee recognition software, that stands out for its novel approach to describe its product features.
5. They boost customer retention
Explainer videos can play a great role in customer retention for your B2B brand. Not only do these videos give potential customers useful insight into what you offer but they also improve customer retention rates due to their ability to engage people in a short time. You can use them to:
Explain new features, announce discounts to existing customers, and provide information that is already in your marketing funnel.
Improve customer retention rates because they engage people meaningfully. They make customers recognize that you care for them.
As usual, some statistics are in order. We also have a quote from Rsih Bhandari, CEO & Co-Founder of Explainer Video Hero about customer retention using explainer videos.
"Over 58% of respondents to Google's survey indicated that videos played a central role in their own education. This means if you keep producing engaging video content, you’ll develop a loyal customer base who can’t have enough of your brand and products!"
6. They help build a brand identity
Explainer videos can help build your B2B brand identity because they:
Use storytelling techniques that help brands carve out a distinct identity for themselves.
Create a transparent setup where customers are comfortable doing business with a brand.
"According to a motioncue study, 63% of consumers mention that video keeps brands top of mind. Simply put, creating engaging explainer video content consistently keeps your brand connected with your fans."
This animated explainer video example is from Airtable, a cloud collaboration service, which uses an explainer video to introduce new features.
7. They improve SEO performance
Investing in an explainer video is an excellent marketing tactic for those looking for substantial growth potential and success because they offer:
Quality backlinks to your website that help search engines to find your content. This increased visibility could result in more clicks, higher conversion rates, and additional website traffic.
Huge potential for boosting your B2B brand’s customer base through increased conversions.
What do the statistics say?
"According to data provided by motioncue, 48% of marketers attributed their page’s improved Google search ranking to videos. Google has been rewarding useful video content with top rankings, and this is expected to further go up as audience tastes have undergone a massive change in favor of visual content."
To learn more about how to use videos for SEO, watch this short video.
Part II: How To Hire an External Explainer Video Service
In this section, we will look at explainer video pricing as well as how to hire a reliable animated explainer video production service.
1. How much does an explainer video normally cost?
Explainer video pricing depends on the script complexity, the level of animation, and the voiceover artist.
An explainer video may cost you between $4,000 and $25,000, depending on the style and length of the video, and the video production agency.
Hiring a freelancer may cost you $1,000 to create a 30-second video.
Here is an excellent resource from Explainer Video Hero for your reference:
2. How to find a reliable corporate explainer video service?
If you don’t know how to make an explainer video, your best option is to hire a reputable animated explainer video company that meets at least half of the following criteria:
It should have a good portfolio.
It should offer affordable and fast explainer video services via remote video production.
Our discussion should have convinced you that explainer videos are worth the cost when you consider the benefits they provide for your company.
Whether you want to generate more leads, reach a wider audience, increase sales, stand out from the competition, retain existing customers, build a brand identity, or improve SEO performance – the best explainer videos can deliver real value.
Finally, businesses should take advantage of this powerful marketing tool by investing in creating an impactful explainer video animation for their website.
1. What are corporate explainer videos?
Corporate explainer videos are short videos that businesses use to educate viewers about a specific product or service. By breaking down complex information and making it visually engaging and entertaining, they make it accessible to the viewer.
2. How do explainer videos improve the time spent by visitors on my website?
Explainer videos can improve SEO performance because website visitors who watch them are more likely to stay on the page longer than those who don’t watch them. They might also explore the rest of your website. Basically, explainer videos make those first few seconds matter, thus bringing down bounce rates.
3. What are the 7 benefits/facts of an Explainer Video?
Every B2B should use Explainer videos in their marketing campaign.Explainer videos are short, simple, cost-effective, attractive, attention-grabbing, engaging, and shareable. Lastly, they provide the best marketing return on investment (ROI) compared to other methods.
4. How much does an explainer video cost?
The explainer video pricing varies among explainer video companies. The explainer video cost is also dependent on such factors as video length and animation style. You can expect to pay anywhere between $1,000 to $30,000. However, considering the ROI and the convenience of creating them, the cost may be justified.